Global Automotive Pump Market 2020-2024 | increasing Use of Electric Fuel Pumps to Boost the Market Growth | Technavio

Technavio has announced its latest market research report titled Global Automotive Pump Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The automotive pump market size is expected to grow by USD 42.23 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

Automakers are increasingly focusing on improving the performance, fuel efficiency, and safety while reducing harmful emissions. In addition, automotive manufacturers have also been offering electronic fuel injected vehicles for delivering high performance and superior mileage. Automotive fuel injection systems play a key role in determining a vehicle’s performance and ensure fuel efficiency and reduction of carbon emissions. Furthermore, automakers have also increased the use of multi-port fuel injection systems in modern vehicles that offer a precise flow of fuel into the intake manifold. This increasing use of electric fuel pumps as an integral part of fuel injection systems is further expected to drive the automotive pumps market growth in the coming years.

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As per Technavio, the developments in the field of hydrocarbon evaporation control systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This automotive pump market research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Automotive Pump Market: Developments in the Field of Hydrocarbon Evaporation Control Systems

Various stakeholders operating in the automotive value chain, along with government councils and institutions, are developing an environmentally sustainable automotive industry. This has led to different innovations in automotive technologies and systems to reduce harmful effects on the environment. Furthermore, vendors in the market are also developing electrified solutions such as electric pumps to reduce hydrocarbon evaporative emissions. These continuous developments in the field of hydrocarbon evaporation control systems are expected to drive the automotive pump market growth during the forecast period.

“Rising focus of OEMs on developing autonomous vehicles, increasing adoption of new or improved emission standards, and flourishing growth of the automotive industry in emerging economies will have a significant impact on the growth of the automotive pump market value during the forecast period,” says a senior analyst at Technavio.

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Automotive Pump Market: Segmentation Analysis

This market research report segments the automotive pump market by vehicle type (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, MEA, and South America).

The APAC region led the automotive pump market share in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rising urbanization and globalization and the growing disposable income in economies including China, Indonesia and Singapore.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The global automotive pump market has the potential to grow by USD 42.23 billion during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/